OPEC+ is meeting July 6 and I would have assumed the baseline in the market was for another large 411K output hike but oil dipped after Bloomberg reporting that OPEC is set to weigh another ‘super-sized’ oil output increase. For me, this isn’t a surprise at all and it would be something of a shock if they don’t add…
AUD/USD weakens after reaching a fresh YTD high of 0.6564 on Thursday. US-China trade lifts risk sentiment, but profit taking and a firmer USD limit gains. AUD/USD is heading toward 0.6500, with bullish momentum fading above 0.6550. The Australian Dollar (AUD) is pulling back from weekly highs against the US Dollar (USD) on Friday. At the time of writing,…
International credit rating agency S&P Global Ratings has revised the outlook on Freedom Holding Corp.’s core operating subsidiaries from “Stable” to “Positive,” while affirming their credit ratings at ‘B+/B’. The revised outlook applies to Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC. The rating of the parent company, Freedom Holding Corp.,…
The Dow Jones made a bullish push for the 44,000 region on Friday. Equities are on the rise as investors bank on US trade deals. Traders are hoping for three Fed rate cuts by the end of 2025, to begin in September. The Dow Jones Industrial Average (DJIA) gained ground on Friday, driven by a combination of investor expectations…
SPX daily The S&P 500 is up 45 points to a fresh record at 6185. It’s bee a great week for stock markets following the Iran-Israel war and the S&P 500 is up 3.6% WTD. The market isn’t rattled by Trump trade comments as it’s concluded that tariffs won’t be overly inflationary and that other countries aren’t likely to…
XAU/USD falls over 1.5% as safe-haven demand wanes on global trade and geopolitical easing. US-China trade deal signed; more agreements expected before July 9, boosting sentiment. Iran signals diplomacy; Israel–Gaza war may end in two weeks, says Al Arabiya. Core PCE rose above forecasts; Fed’s Kashkari still expects two rate cuts in 2025. Gold price tumbled over 1.50% on…
Baker Hughes data: Oil rigs -6 to 432 Nat gas rigs -2 to 109 WTI crude oil is trading down 11 cents to $67.65. This article was written by Adam Button at www.forexlive.com.
EUR/USD pulls back to 1.1695 after hitting yearly peak above 1.1750. US core PCE inflation rises above expectations; consumer sentiment improves, weighing on Euro. ECB’s Knot sees one more cut in 2025; French inflation cools, Spain’s HICP exceeds 2%. The EUR/USD retreats from yearly highs above 1.1750, tumbling below 1.1700 despite market participants being convinced that the Federal Reserve…
Trump — evidently — is so offended that Iran’s supreme leader didn’t say ‘thank you’ to Trump and instead claimed he won the war that he’s “immediately dropped all work on sanction relief, and more”. Here is Trump’s post: Why would the so-called “Supreme Leader,” Ayatollah Ali Khamenei, of the war torn Country of Iran, say so blatantly and…
The Canadian Dollar sharply pared back near-term gains on Friday. US President Donald Trump has announced that his team is ending all trade talks with Canada. Canadian GDP growth contracted in April, adding further downside pressure to Loonie flows. The Canadian Dollar (CAD) backslid on Friday, falling back on a combination of weakening Canadian Gross Domestic Product (GDP) growth…
